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Transportadora de Gas del Sur S.A (TGSU2) Fair Value & Analysis

Energy · AR · Market cap 7.2T ARS

TD Transportadora de Gas del Sur S.A TGSU2 · BA
Price9,550 ARS
Fair Value7,479 ARS
Upside-21.7%
Quality53/100
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Expensive Growth
Highly profitable · 24.7% net margin
Low debt · generates free cash flow
Mixed vs. peers (6/13)
Wide moat 73/100
Evidence: High Range 5,610 ARS – 14,473 ARS Share as image

Fair value as of: Jul 5, 2026

From 24 valuation models · updated 36 days ago

Fair value updated Jul 5, 2026, revised from 16,199 ARS to 7,479 ARS (−53.8%) since Jun 24, 2026. Share price +4.9% over the past month.

A solid business, but screening 22% overvalued on our models.

What matters now

  • Solid but not exceptional quality (53/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (5,610 ARS to 14,473 ARS) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

10,320 ARS 128.25 ARS Fair Value 7,479 ARS Feb 2021 Jun 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 5, 2026.

How to read this chart

60‑month range 128.25 ARS – 10,320 ARS · fair‑value band 5,610 ARS – 14,473 ARS · the 9,550 ARS price screens above the 7,479 ARS fair value. Dashed = 300-day average. As of Jul 5, 2026.

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Analysis

Transportadora de Gas del Sur S.A (TGSU2) currently trades at 9,550 ARS, while our model-based Fair Value estimate is 7,479 ARS, implying the stock looks roughly 21.7% overvalued today. The Quality Score stands at 53/100 (solid quality), in the Energy sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Transportadora de Gas del Sur S.A generated revenue of 1.8T ARS at a net margin of 24.7%. Revenue grew 13.2% year over year. It earns a return on equity of 14.3%. Net debt stands at 688B ARS. Fundamentals as of Jul 5, 2026

Our scenario range runs from 5,610 ARS (bear case) to 14,473 ARS (bull case); at 9,550 ARS, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 11% below its 52-week high and 62% above its 52-week low, currently above its 200-day average. For context, the median of 10 Energy peers we cover trades at -11% fair-value upside, at -22%, TGSU2 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF 4,299 ARS 9,904 ARS 19,317 ARS 80
Residual Income 4,059 ARS 5,233 ARS 14,473 ARS 76
Rev-Margin DCF 2,433 ARS 4,717 ARS 9,523 ARS 74
All 24 models by family
DCF Models
FCF DCF 4,614 ARS 7,973 ARS 18,957 ARS 38
Owner Earnings 5,813 ARS 14,790 ARS 34,477 ARS 31
5Y Revenue Exit 2,140 ARS 4,008 ARS 7,892 ARS 39
5Y EBITDA Exit 5,038 ARS 9,872 ARS 19,362 ARS 41
5Y P/E Exit 5,099 ARS 12,751 ARS 23,229 ARS 38
10Y Revenue Exit 2,802 ARS 6,436 ARS 8,505 ARS 36
10Y EBITDA Exit 5,056 ARS 12,825 ARS 26,528 ARS 37
10Y P/E Exit 5,101 ARS 12,959 ARS 25,999 ARS 35
Earnings-Based
Graham-Dodd 3,802 ARS 26,513 ARS 37,207 ARS 54
Lynch FV 13,698 ARS 19,568 ARS 25,439 ARS 50
PEG = 1.0 13,698 ARS 19,568 ARS 25,439 ARS 46
EPV 8,299 ARS 9,917 ARS 11,355 ARS 59
Multiples
P/E Multiple 5,870 ARS 7,827 ARS 9,784 ARS 63
P/S Multiple 2,040 ARS 2,720 ARS 3,400 ARS 58
P/B Multiple 5,610 ARS 7,479 ARS 9,349 ARS 55
EV/EBIT 6,771 ARS 9,318 ARS 11,865 ARS 53
EV/EBITDA 4,921 ARS 6,852 ARS 8,783 ARS 54
EV/Revenue 1,033 ARS 1,849 ARS 2,665 ARS 43
Asset-Based
NCAV (Graham) 2,078 ARS 2,784 ARS 4,155 ARS 50
Growth DCF
Growth DCF 4,299 ARS 9,904 ARS 19,317 ARS 80
Rev-Margin DCF 2,433 ARS 4,717 ARS 9,523 ARS 74
Economic Profit
Residual Income 4,059 ARS 5,233 ARS 14,473 ARS 76
ROIC Compounder 12,084 ARS 19,712 ARS 25,241 ARS 72
Growth Earnings
Growth-Adj P/E 16,054 ARS 22,934 ARS 29,814 ARS 68

Widest divergence: Growth Earnings (22,934 ARS) versus Asset-Based (2,784 ARS). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 1.8T ARS
Revenue growth (YoY) +13.2%
Net margin 24.7%
Return on equity 14.3%
Free cash flow 231B ARS FY2025
P/E ratio 16.4
More key figures
Operating margin 49.7%
EPS (TTM) 582.52 ARS
EPS growth (YoY) +12.4%
Net debt 688B ARS FY2025

Figures from reported company fundamentals · as of Jul 5, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 53/100

Of which business quality 54 · Market factors (momentum, volatility) 64

Profitability 51
Margins and returns on capital today
Quality Growth 34
Are margins and returns improving?
Cashflow 57
Earnings quality: real cash, not paper profit
Fin. Strength 77
Balance sheet, leverage, solvency risk
Investment 2
Disciplined investing over empire-building
Low Volatility 62
Calm price path (market factor)
Momentum 56
Price trend over the last 3–12 months (market factor)
52W Momentum 81
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Transportadora de Gas del Sur S.A. engages in transportation of natural gas, and production and commercialization of natural gas liquids in Argentina and internationally. The company operates through four segments: Natural Gas Transportation Services; Liquids Production and Commercialization; Midstream; and Telecommunications.

Full company description

Transportadora de Gas del Sur S.A. engages in transportation of natural gas, and production and commercialization of natural gas liquids in Argentina and internationally. The company operates through four segments: Natural Gas Transportation Services; Liquids Production and Commercialization; Midstream; and Telecommunications. The Natural Gas Transportation segment transports natural gas through pipeline system to distribution companies, power plants, and industrial customers. It provides operation and maintenance services for the natural gas transportation facilities. The Liquids Production and Commercialization segment produces and commercializes natural gas liquids, such as ethane, liquid petroleum gas, natural gasoline, propane, and butane. This segment offers certain related services comprising reception, storage, and dispatch of the liquids. The Midstream segment provides natural gas conditioning services; treatment, removal of impurities and natural gas compression, including the collection and transport of natural gas; and inspection and maintenance of pipelines and compressor plants services. In addition, this segment offers steam generation for electricity production and management services for expansion works and steam generation for the production of electricity. The Telecommunications segment offers data transmission services through a network of digital terrestrial radio relay. It serves residential, commercial, industrial, and electric power generation end users. The company was incorporated in 1992 and is headquartered in Buenos Aires, Argentina. Transportadora de Gas del Sur S.A. operates as a subsidiary of Compañía de Inversiones de Energía S.A.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Transportadora de Gas del Sur S.A reported revenue of 1.7T ARS in FY2025 versus 89.0B ARS in FY2021, a compound +109.3%/yr. Reported net income was 421B ARS in FY2025, compounding +111.8%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
1.7T ARS
Latest YoY
+7.5%
Avg. growth/yr (3Y)
+16.5%
Avg. growth/yr (5Y)
+98.1%
Avg. growth/yr (10Y)
+82.2%
Revenue +109.3%/yr
FY21 89.0B ARS
FY22 1.1T ARS
FY23 1.3T ARS
FY24 1.6T ARS
FY25 1.7T ARS
Net income +111.8%/yr
FY21 20.9B ARS
FY22 219B ARS
FY23 67.4B ARS
FY24 487B ARS
FY25 421B ARS

TGSU2 screens 22% overvalued. Compare with Saudi Arabian Oil Company →

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Cite: Fair Value Calculator (2026). "Transportadora de Gas del Sur S.A Fair Value". https://www.fairvalue-calculator.com/stock/TGSU2

Peer Group

Oil & Gas Integrated · 54 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 53 · Below median
Fair Value upside −22% · Below median
Return on equity (TTM) 14% · Above median
Return on assets 10% · Top 25%
Net margin (TTM) 25% · Top 25%
Operating margin (TTM) 50% · Top 25%
Revenue growth 13% · Top 25%
Debt / equity 0.47× · Higher than median

Valuation Multiples vs Oil & Gas Integrated median · lower = cheaper

P/E (TTM) 16.4× · Pricier than median
P/B 2.30× · Pricier than 75% of peers
P/S (TTM) 4.05× · Pricier than 75% of peers
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 8.0× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 4 · sector 16
FUTURE 66 · sector 7
PAST 57 · sector 45
HEALTH 77 · sector 87
DIVIDEND 0 · sector 79

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Oil & gas

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Oil & Gas Integrated stocks, each showing price versus our Fair Value estimate (as of Jul 5, 2026).

Stock Price Fair Value vs Fair Value
Saudi Arabian Oil Company 2222 26.72 SAR 20.14 SAR -25%
Exxon Mobil Corporation XOM $144.51 $90.37 -37%
Chevron Corporation CHEV C$22.88 C$7.97 -65%
PetroChina Company 601857 ¥10.29 ¥16.51 +60%
Shell plc SHELL €38.04 €46.09 +21%
TotalEnergies SE TTE C$13.80 C$7.92 -43%
Petróleo Brasileiro S.A PETR3 12,540 ARS 30,914 ARS +147%
BP p.l.c., an integrated energy company, BP $40.83 $12.71 -69%
China Petroleum & Chemical Corporation 600028 ¥5.03 ¥4.46 -11%
Equinor ASA EQNR $36.19 $34.53 -5%

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Frequently asked questions

Is Transportadora de Gas del Sur S.A (TGSU2) overvalued or undervalued?
As of Jul 5, 2026, our model estimates a fair value of 7,479 ARS versus a price of 9,550 ARS, about −22% (overvalued).
What is the fair value of TGSU2?
Our model-based fair value for Transportadora de Gas del Sur S.A is 7,479 ARS (as of Jul 5, 2026), built from audited fundamentals. The current price is 9,550 ARS.
What is the quality score of TGSU2?
Transportadora de Gas del Sur S.A has a Quality Score of 53/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Transportadora de Gas del Sur S.A (TGSU2)?
Transportadora de Gas del Sur S.A reported trailing-twelve-month revenue of about 1.8T ARS (latest available figure, as of Jul 5, 2026).
What is the net profit margin of TGSU2?
The net profit margin of Transportadora de Gas del Sur S.A is about 24.7%, meaning it keeps roughly 24.7% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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